Looking to diversify beyond AVEDX? The mutual funds below have historically moved differently from AVEDX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for AVEDX
3 mutual funds have low correlation with AVEDX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes MDT All Cap Core Fund (QIACX) (Large Cap Blend Equities) with a 1Y correlation of 0.12, down from 0.67 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Federated Hermes MDT All Cap Core Fund | 0.12 | 0.42 | 0.67 | 53 | Large Cap Blend Equities | AVEDX vs QIACX | |
| Federated Hermes MDT All Cap Core Fund Class R6 | 0.12 | 0.42 | 0.67 | 50 | Large Cap Blend Equities | AVEDX vs QKACX | |
| Goldman Sachs Strategic Volatility Premium Fund | 0.29 | 0.14 | 0.13 | 97 | Large Cap Blend Equities | AVEDX vs SVPFX | |
| North Square Preferred and Income Securities Fund | 0.32 | 0.30 | 0.38 | 59 | Preferred Stock | AVEDX vs ORDNX | |
| PRIMECAP Odyssey Growth Fund | 0.33 | 0.56 | 0.72 | 89 | Large Cap Blend Equities | AVEDX vs POGRX |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for AVEDX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Occidental Petroleum Corporation (OXY) (Energy) with a 1Y correlation of 0.01, down from 0.37 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Occidental Petroleum Corporation | 0.01 | 0.24 | 0.37 | 70 | Energy | |
| Valero Energy Corporation | 0.03 | 0.25 | 0.33 | 98 | Energy | |
| Devon Energy Corporation | 0.04 | 0.29 | 0.41 | 76 | Energy | |
| Cheniere Energy, Inc. | 0.05 | 0.22 | 0.31 | 57 | Energy | |
| Chevron Corporation | 0.06 | 0.30 | 0.40 | 80 | Energy |
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